PETALING JAYA: DRB-Hicom Bhd’s revenue for the third quarter ended Sept 30, 2021, came in at RM2.12bil as the movement control order restricted business activities across the group.

       This was a decrease of 40.5% against the same quarter in 2020, when revenue was recorded at RM3.56bil.

       In a statement yesterday, the conglomerate said for the nine months to September 2021, DRB-Hicom’s revenue only slipped 0.6% to RM8.25bil from RM8.31bil a year ago.

       Correspondingly, DRB-Hicom recorded a pre-tax loss of RM201.42mil in the third quarter from RM142.42mil previously. Year to date, the group’s pre-tax loss widened to RM444.64mil from RM408.68mil previously.DRB-Hicom said its revenue from the automotive sector declined to RM1.27bil in the third quarter from RM2.54bil, as sales activity ceased under the movement control order.

       Nonetheless, for the nine months to September 2021, the sector recorded a 4% rise in revenue to RM5.63bil against RM5.41bil in the corresponding period of 2020.

       “Once again, Proton led sales during the period under review, with the national car company gaining market share from its position last year.

       Proton X70

       “A total of 71,244 units of Proton cars found new homes in the nine months to September 2021, giving them a year-to-date market share of 22% against 21% in the same period in 2020,” it said.

       “In the nine-month period, most marques under the DRB-Hicom umbrella strengthened or maintained their positions on the national sales charts.

       “Residual issues such as component supply still pose some challenge to the industry, but remedial efforts continue to be tweaked to ensure supply can meet pent-up demand for vehicles,” DRB-Hicom added.

       DRB-Hicom said its automotive sector remains the key contributor to the group.

       “The government’s decision to extend the sales tax exemption for passenger vehicles until June 30, 2022 will induce strong demand for cars.

       “With operations running at full capacity governed by strict SOPs, Proton and other marques within the group are committed to ramping up production and accelerating delivery, alongside various promotion programmes to spur sales growth,” it said.

       In addition, the lifting of the interstate travel ban and gradual re-opening of borders is expected to boost the group’s other businesses including logistics, defence, aerospace, banking and services segments.

       However, as economic uncertainties may still persist, the group pointed out it will continue to remain vigilant and cautious in managing its businesses.

       Notwithstanding the above, the group does not expect the economic recovery in the fourth quarter to reverse the cumulative negative impact brought about by the Covid-19 pandemic for the financial period ended Sept 30, 2021,” DRB-Hicom said.